BCL Forgings Ltd Company Summary

BCL Forgings Ltd Summary

Incorporated as Viscorts Forge Pvt Ltd in 1967, BCL Forgings became a subsidiary of Business Combine, manufacturers of SG iron castings and GI castings and automotive ancillaries like axle shafts and double cardan joints. It was a deemed public limited company. It came out with a public issue in Jun.84, after which it ceased to be a subsidiary of Business Combine and became a public limited company. The company acquired its present name in 1984. It is an associate of the XLO group.The company manufactures steel and alloy steel forgings. It has a technical collaboration agreement with Franz Mayer, Germany, to manufacture forgings. In 1992-93, it undertook an expansion programme which was to be executed in a phased manner, spanning two years. Part of the expansion plan was stopped during 1993 due to labour confrontation which lasted for more than seven months. Remaining part of the execution of the expansion programme was taken-up in 1995-96.The companys client list includes Telco, Mahindra & Mahindra, Bajaj Tempo, Kirloskar Oil Engines, Bharat Gears, Bharat Earth Movers, etc.Due the loss suffered by the company during the year 1997-98 and erosion of its networth, it has become a sick company. The company has suspended its operations from May 2001 and has declared lockout from Jun.01 at its factory in Satpur, Nasik till further notice.